Latest News

See the latest news and get GPT analysis of articles

Delta Airline’s Put Option Activity Isn’t Bad News 2024-03-28 12:55:00+00:00 - Key Points Put option volume typically means that traders expect a stock to go down shortly; however, in the case of Delta, it could mean the opposite. A hedge rather than a bearish bet, Wall Street has caught onto all Delta's tailwinds over its peers; analysts also make it clear. Fundamentals and technicals both align to give the stock a potentially higher ceiling ahead. 5 stocks we like better than UBS Group When traders place directional bets on a stock (meaning they are definitely bullish or bearish), they can amplify their returns through options. Options allow for responsible leverage-taking when the timing and magnitude of a stock’s move are relatively certain. A Stampede of put option buyers swept into Delta Air Lines Inc. NYSE: DAL, which normally means bad news since put option buyers profit if the underlying stock declines. However, based on the market’s language and Wall Street’s expectations, these put options may be more of an insurance factor rather than a directional bet. Get UBS Group alerts: Sign Up Because Delta is about to announce its quarterly earnings report in April 2024, traders may actually be looking to hedge their positions in case there is a decline before the announcement. Everyone is looking for the answer: “Why not sell the stock?”. Well, the expectations are still bullish. Decoding the Trend While the rest of the airline stocks trade at an average 77% of their 52-week high prices, Delta Airlines rose to 93% of its 52-week high. Momentum favors the stock, but what is the tailwind giving it an extra set of lungs? Because the Federal Reserve (the Fed) is looking to cut interest rates later this year, investors may expect increased business and leisure travel in the U.S. The timing and magnitude of these potential cuts are still up for speculation. Still, there is a tool investors can use to keep up with sentiment. The FedWatch tool at the CME Group Inc. NASDAQ: CME shows that traders have rate cuts priced in for May and June 2024. This means that the window of opportunity before the rest of the market prices in these potential cuts is closing by the day. With oil rising above $80 and analysts at The Goldman Sachs Group Inc. NYSE: GS expecting to see $100 a barrel this year, fuel costs for airlines may keep the industry at these compressed prices. However, something specifically could help Delta stay head and shoulders above competitors. Delta Stock at Flying Altitude When comparing Delta Airlines to the rest of the transportation sector, investors can find a few outlying factors. Starting with performance, a 43% rally in the past 12 months gives Delta enough runway to potentially higher prices; after all, the rest of the industry stood at only 11.4%. Price action is only one pillar through which investors can filter opportunities; there is another way to make sure the market is still bullish on the stock. On a forward price-to-earnings (forward P/E) basis, Delta’s 6.2x valuation places it not only 18% above the industry’s 5.3x average but also some of its biggest competitors. United Airlines Holdings Inc. NASDAQ: UAL currently trades at 4x forward P/E, and its price action shows it to be at only 79% of its 52-week high. As of February 2024, the stock’s short interest rose by 14.8% as a sign of the times, fortune does not favor this one. American Airlines Group Inc. NASDAQ: AAL trades at a 4.7x forward P/E, still lower than Delta’s valuation by 24%. The stock sold down to 78% of its 52-week high as bears took over the price action in this name. Analysts expect earnings per share (EPS) growth of 27% for American and 18% for United over the next 12 months. Delta Airlines is looking to push out a much lower growth rate of 13%, yet markets still value these future earnings more than peers. It’s in Its DNA After a recent scandal involving a Boeing Co. NYSE: BA 737 MAX 9 jet, airlines that depend on Boeing planes may be suffering as a result. Because most of Delta’s fleet is made up of Airbus OTCMKTS: EADSY planes, the airline reported a 99.8% completion factor, making it the ‘most reliable’ for the year. While American and United also have Airbus planes on their fleet, it is Delta who took delivery of 15 Airbus aircraft. Markets may have become bullish on the stock after realizing the company is looking to steer clear of further Boeing accidents or delays. For this reason, management was proud to announce a doubling in revenues over the past year, and also guided to an even better 2024. Analysts at the UBS Group NYSE: UBS boosted their price targets for the stock up to $59 a share, calling for a 27% upside from today’s prices. As the stock flirts with its 52-week high, market preferences backed by fundamentals may still push it higher. Before you consider UBS Group, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and UBS Group wasn't on the list. While UBS Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Krispy Kreme's Sweet Deal: McDonald's Partnership Sparks Growth? 2024-03-28 12:43:00+00:00 - Key Points Krispy Kreme's stock soared by as much as 40% after announcing a major partnership with McDonald's on Tuesday. DNUT's partnership with MCD marks a significant step in expanding its reach, potentially boosting international growth. Despite the recent optimism, bearish sentiment persists in DNUT due to significant short interest, mixed analyst ratings, and recent insider selling. 5 stocks we like better than Krispy Kreme Shares of Krispy Kreme NASDAQ: DNUT soared by as much as 40% on Tuesday following the announcement of a partnership with McDonald's NYSE: MCD. The companies revealed plans to make Krispy Kreme doughnuts available at all McDonald's restaurants across the United States. This strategic move is set to roll out gradually throughout the year, with nationwide availability expected by the end of 2026. Tariq Hassan, McDonald's USA's chief marketing and consumer experience officer, expressed enthusiasm about the partnership, citing it as an exciting opportunity to expand their breakfast offerings. Likewise, Krispy Kreme's president and CEO, Josh Charlesworth, highlighted the significance of the collaboration, emphasizing the joy it will bring to doughnut lovers nationwide. Get Krispy Kreme alerts: Sign Up While the announcement offered some relief for shares of Krispy Kreme, on a higher timeframe, the stock remains below resistance and in a downtrend. Could this news be fundamentally changing and result in a momentum shift for the stock? DNUT Surges on MCD Partnership Although the stock was down over 11% on Wednesday, it remained up almost 30% on the week, thanks to its impressive surge on Tuesday. Notably, the stock has closed above $15 for the first time since the beginning of the year, clearing its first significant hurdle as it looks to break the downtrend and establish higher support. Despite initial struggles after its IPO in 2021, the company’s stock is beginning to look more attractive to investors. This is driven by lower inflation, increased consumer spending, and the expansion of its strategic partnership with McDonald's. The strategic partnership with MCD will significantly increase DNUT's accessibility, transitioning from 350 to over 13,000 locations, with potential international growth in sight. Leveraging its collaboration expertise, DNUT is poised for future growth and offers a competitive edge in the fast food market. This partnership certainly could mark a crucial turnaround for shares of Krispy Kreme, addressing accessibility challenges and paving the way for sustainable growth amid inflationary pressures. Will the Partnership Sweeten DNUT’s Earnings? Investors will undoubtedly hope that the recently announced partnership will break the company’s recent record of earnings misses. Over the previous four quarters, the company has only surpassed EPS estimates once. Most recently, DNUT posted its quarterly earnings data on February 13th, 2024. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by $0.04. The company earned $450.90 million during the quarter, compared to analysts' expectations of $438.95 million. Its quarterly revenue was up 11.4% compared to last year's quarter. While the stock has underperformed year-to-date and on a higher timeframe than the overall market, investors will be hopeful that the recent announcement could change the company’s fundamentals and topline in the quarters to follow as the rollout gets underway. The Sentiment Remains Bearish While the news is undoubtedly a major positive for the company, the sentiment remains bearish. DNUT has a significant short interest, in-line consensus rating, and recent insider selling. Based on nine analyst ratings, DNUT has a Hold rating, which is in line with the S&P 500 and other Consumer Staples companies. The stock’s consensus price target is $16.06, which forecasts just 4.6% upside. Notably, however, following the announcement on Tuesday, analysts at Citigroup boosted its target on DNUT from $14 to $19, predicting an impressive 24% upside at the time of the report. A factor that might result in heightened volatility and a higher potential squeeze is the abnormal short interest in DNUT. As of March 15, 15.67% of the float was short, totaling 12.6 million shares. That significant short interest equals a dollar volume sold short of $149.68 million. Considering the stock only trades 1.92 million shares daily, the 12.6 million share short position is significant and might result in substantial volatility should the stock continue higher. Before you consider Krispy Kreme, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Krispy Kreme wasn't on the list. While Krispy Kreme currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Russia knew of terrorist attack plot weeks ago, Ukraine's military spy chief says 2024-03-28 10:11:00+00:00 - Law enforcement officers stand guard near the Crocus City Hall concert venue following a reported shooting incident, near Moscow, Russia. Maksim Blinov / Sputnik via AP Russia was aware that a terrorist attack was being planned weeks before the massacre at the Crocus City Hall in Moscow last Friday, Ukraine's military intelligence chief has claimed. "At least since February 15, 2024, the Russian Federation had been aware about the plot," Kyrylo Budanov, the head of Ukrainian military intelligence, told a forum Wednesday. "I will tell you more, this information passed through their intelligence station in Syria. From there it was forwarded to Moscow. So they shouldn't be telling tales that this all materialized in a strange way out of nowhere," Budanov said Wednesday at the Kyiv Stratcom Forum, news agency Ukrinform reported. Chief of the Military Intelligence of Ukraine, Kyrylo Budanov, attends the Kyiv Stratcom Forum 2024 in Kyiv, Ukraine, on March 27, 2024. Nurphoto | Nurphoto | Getty Images The Islamic State (IS) militant group claimed it was behind the Moscow attack last Friday in which 143 died. Russian authorities have arrested several people, including four suspected gunmen, who have been charged with terrorism offenses and are awaiting trial. IS' claim has not stopped high-ranking Russian officials and pro-Kremlin media from pointing the finger at Ukraine and its Western allies, saying they were behind the attack. Russia has not produced evidence to back up its claims which Ukraine, the U.S. and U.K. reject as "utter nonsense" and "categorically false." The White House emphasized that it had warned Russia weeks ago that it believed "extremists" planned to carry out an attack, warning its own citizens in Russia against attending large gatherings as the threat was "imminent." Russia had, at the time of the warning, dismissed the threat, with Putin saying such pronouncements were "provocative" and designed to intimidate Russia. Kyrylo Budanov, chief of the Main Directorate of Intelligence of Ukraine, speaks during the farewell ceremony for Dmytro Kotsiubailo on Independence Square on March 10, 2023, in Kyiv, Ukraine. Global Images Ukraine | Getty Images News | Getty Images Budanov claimed Russia knew where the combat groups would come from, and which countries the attackers would travel through to reach Russia. Discussing why Russia would allow an attack to take place, Budanov said it could be a precursor to the removal of "several high-ranking officials" or that "another option is that they actually underestimated the scale of what would happen." "They thought that the incident would be more local, and wanted to blame Ukraine for everything," the intelligence official said. Ukraine's military intelligence chief did not present evidence to support his claims. Russia blames Ukraine It was not long after the Crocus City Hall terrorist attack — in which gunmen entered the concert venue and started shooting at concertgoers and starting fires in the building — that Russia claimed that there was a "Ukrainian trace" to the attack, despite IS claiming responsibility for the massacre. Russian President Vladimir Putin conceded on Monday that "radical Islamists" had carried out the attack but insisted that Ukraine and its Western backers were linked to it, without presenting evidence. He said the plotters aimed to destabilize Russia and sow panic in Russian society. Then the head of Russia's Federal Security Service, Alexander Bortnikov, claimed Tuesday that the U.S., U.K. and Ukraine were behind the attack, saying Russia had "factual information" to suggest this was the case, although he didn't produce any specific evidence. The damaged Crocus City Hall concert venue near Moscow, Russia, following an attack by gunmen. Russian Ministry of Emergencies | Anadolu | Anadolu | Getty Images On the same day, close Putin ally Nikolai Patrushev — the secretary of Russia's Security Council and in charge of issuing guidance and proposals on national security issues — was also asked by Russian reporters whether Ukraine or the Islamic State group was behind the attack. "Of course Ukraine," Patrushev answered, news agency RIA Novosti reported. On Wednesday, Russian Foreign Ministry spokesperson Maria Zakharova claimed the U.S.′ initial rejection of any Ukrainian involvement was suspicious. With ultranationalist Russian hawks and the pro-Kremlin media issuing plenty of comment into the Russian news space, the Kremlin has remained aloof. Kremlin Press Secretary Dmitry Peskov refused to comment on the alleged Ukraine link, or to state how Russia would respond if it confirmed Ukraine's involvement. Peskov told CNBC on Wednesday that the Kremlin is awaiting the results of an investigation before it comments, stating in an email: "An investigation is underway. The final version has not yet been announced." Russian President Vladimir Putin and his spokesperson Dmitry Peskov at the Supreme Eurasian Economic Council meeting at the Congress Hall in Bishkek on Dec. 9, 2022. Vyacheslav Oseledko | Afp | Getty Images

Trump Will Be World's 7th Richest Person, Says Peter Schiff, If MAGA Investors Push Newly-Listed DJT Stock To $2K - Trump Media & Technology (NASDAQ:DJT) 2024-03-28 10:05:00+00:00 - Loading... Loading... Renowned economist Peter Schiff has made a bold prediction about the potential rise of Trump Media & Technology Group DJT stock and its impact on former President Donald Trump‘s net worth. What Happened: Schiff, in a post on X, formerly Twitter, on Wednesday, wrote, “If MAGA investors push $DJT to $2k per share, Trump will be the 7th richest person in the world, just ahead of Bill Gates. DJT should add some Bitcoin to its balance sheet and rename the company Trump AI and Crypto Technology Group. Then cap the shares to limit supply and HODL.” See Also: Jim Cramer Jokes About The ‘Bright Side’ Of GameStop Skipping Earnings Call After Stock Falls Nearly 17%: ‘I Don’t Have To Listen To…’ Why It Matters: DJT made its public debut this week following a SPAC merger approval by shareholders. The stock experienced a surge, raising questions about its valuation and the possibility of it being treated as a meme stock. The stock jumped 16% on its first day of trading and ended the session with a market value of $6.58 billion. Financial commentator Herb Greenberg expressed skepticism about DJT’s valuation, suggesting that without Trump’s name, it would be considered a penny stock. Schiff’s tweet seems to reflect a different perspective, indicating the potential for significant growth if certain strategies are implemented. Price Action: On Wednesday, Trump Media & Technology stock closed 14.19% up at $66.22, according to data from Benzinga Pro. Read Next: Step Aside, Dogecoin: ‘Father Of MEMEs’ Richard Dawkins Gets Crypto Named After Him As Birthday Present, Elon Musk LOLs At Dawkoin Image via Shutterstock Engineered by Benzinga Neuro, Edited by Pooja Rajkumari The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Prospect of Thames Water nationalisation looms after shareholders cancel investment – business live 2024-03-28 09:58:00+00:00 - 09.54 GMT Prospects for Thames Water nationalisation increase after funding collapse The chances of Thames Water being nationalised have risen after shareholders refused to inject £500m in emergency funding. The shareholders rejected conditions by the water regulator, Ofwat, that would have damaged their financial returns. Thames Water’s boss, Chris Weston, today said that if no funding could be found by the end of next year there was a prospect of special administration, under which the government takes control of failed essential utilities. However, Weston said “we are a long way from that point at the moment”. The Liberal Democrats have said the government should immediately take control of Thames Water’s operations and then nationalise it. Labour, which is likely to lead the next government, according to polls, said it would make sure that “new investment comes through to fix the broken sewage system without taxpayers being left to foot the bill”. It did not mention nationalisation. The Green party’s Lady Jones has suggested that Thames Water should be allowed to fail, so that it can be taken into public ownership “on the cheap.” Speaking to the Guardian’s environment correspondent, Helena Horton, Jones said:

THE NEWS FORUM: GenZ/Millennials in heated debate over housing, climate change, sustainability, healthcare and foreign aid with influencer guests Anthony Feor (Liberal) and Jonathan Harvey (Conservati 2024-03-28 09:56:00+00:00 - Loading... Loading... ST. CATHARINES, Ontario, March 28, 2024 (GLOBE NEWSWIRE) -- The News Forum, Canada's national news broadcaster is releasing a special one-hour special of "My Generation" Thursday at 10:00 PM on March 28, 2024. Episode Trailer: https://youtu.be/qOnHKYu6lsc Where to find The News Forum Channel: https://www.thenewsforum.ca/wheretowatch According to voter trends, over the past ten years Canada has seen an increase in the GenZ and Millennial demographic showing up to vote in Canadian elections, and recent polls indicate that this demographic are more likely to vote based on the issues they care about most, versus political party lines. What does this mean for the political landscape going into our next federal election? This is the question that host Samuel Miele and his two panelists — Anthony Feor and Jonathan Harvey wanted to explore on this extended episode of "My Generation". "Despite common narratives, Gen Z wants to understand individual policies to make an informed decision when voting," said Samuel Miele, host of "My Generation". As a twenty-year old Canadian, he's passionate about inspiring others in his demographic to get involved as well. "We're starting to understand it's not about the party, or what they say. Gen Z is interested in public transparency and explanations, and we want to have conversations on a granular level about these issues." This one-hour episode focuses on Housing, Climate and Sustainability Initiatives, Immigration, Healthcare, and Foreign Aid. Each of the panelists were selected for their apparent political differences and invited to discuss each topic from the perspective of their party, with the focus of identifying practical solutions. "These are important and necessary conversations," said Anthony Feor, a regular panelist on the show, "and it's encouraging for the future to know we can have different viewpoints and have a constructive conversation. Canadians of all generations should watch this episode." Jonathan Harvey, a face many Canadians will recognize from social media, or the recently launched Blendr News, joined the panel for this conversation. "Equipping the younger generation with a deep understanding of the political landscape is a fundamental step in nurturing a society enriched by informed citizens, critical thinkers, and empowered future leaders." My Generation is a weekly show on The News Forum that encourages Canadians in their 20s and 30s to engage in conversation about the important issues of our time. The program explores a range of perspectives on political, economic, and moral challenges that are relevant to Canadians, and specifically to Gen Z and Millennials. The goal of each show is to explore different perspectives and opinions, through balanced, articulate conversation, and encouraging open dialogue. You can watch recent episodes online at: thenewsforum.ca/series/my-generation/ Media Contact: Danielle Klammer 604 626 6993 d.klammer@thenewsforum.ca About The News Forum The News Forum is a national Canadian news broadcaster available through most television distributors – see local listings. TNF is a proud subscriber to the Canadian Press/AP as a significant source of breaking news from across Canada and around the world. https://www.thenewsforum.ca/wheretowatch Additional Information: Website: www.thenewsforum.ca News Website: https://www.forumdailynews.ca/ Twitter: @TheNewsForum_ (https://twitter.com/TheNewsForum_) Facebook: @YourNewsForum (https://www.facebook.com/YourNewsForum/) Instagram: @TheNewsForum (https://www.instagram.com/thenewsforum/) YouTube: https://www.youtube.com/c/TheNewsForum TikTok: @thenewsforum_ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a55fa1b1-aa5d-41b1-94a5-da9a0ac7fd73

Foreign companies have lost over $100 billion in the process of leaving Russia since it started the war in Ukraine 2024-03-28 09:47:35+00:00 - Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Putin's regime has intensified punitive measures on companies that want to leave Russia. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Foreign companies that have left Russia since it invaded Ukraine in 2022 have lost $107 billion in the process of exiting the market, according to a Reuters analysis published on Thursday. Reuters last published an analysis of company filings and statements in August. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process.

Time To Buy Robinhood Stock? Jim Cramer Weighs In As Shares Gain Nearly 4% On Wednesday - Robinhood Markets (NASDAQ:HOOD) 2024-03-28 09:37:00+00:00 - Loading... Loading... Robinhood Markets Inc. HOOD has been a hot topic in the stock market lately, with its shares soaring after the company announced a new credit card. However, CNBC’s Jim Cramer has some reservations. What Happened: Cramer expressed his concerns about the rapid surge in Robinhood’s stock price during CNBC’s “Lightning Round” segment. “I think that that Greyhound bus has left the station, and I got to wait. I mean, the thing just doubled in no time whatsoever…We don't buy doubles here.” See Also: Dogecoin Soars As Elon Musk’s X Payments Gains Ground, Enthusiasts Rally With $800M Boost Why It Matters: Robinhood’s stock surge followed the company’s announcement of its new credit card, the Robinhood Gold Card, at its first-ever keynote event. The credit card offers 3% cash back on all categories with no annual fees and no foreign transaction fees. Robinhood’s recent stock surge has been attributed to the company’s expanding financial services offerings. Robinhood CEO Vlad Tenev stated that the company’s goal is to create a financial world where all customer assets are held at Robinhood, and all financial transactions go through the platform. Despite the stock’s recent performance, Cramer had previously voiced his concerns about the sustainability of Robinhood’s growth. He attributed the stock’s surge to “pure momentum” rather than the company’s underlying business fundamentals. Robinhood’s stock price has been on a rollercoaster ride recently. On Wednesday, the stock closed 3.79% up at $20.01. The stock’s 52-week high was $20.55, and its low was $7.91. Read Next: US Automakers Are Having Nightmares About A $10K Chinese EV That Isn’t Even On American Soil Yet Photo via Shutterstock. Engineered by Benzinga Neuro, Edited by Pooja Rajkumari The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

The Death of the Typical American Family 2024-03-28 09:33:01+00:00 - For most of the 20th century, the word "family" in America evoked a predictable picture of cookie-cutter cleanliness: the happily married husband and wife, their 2.5 kids, and one improbably well-behaved golden retriever, all under the same roof. But the nuclear family has steadily eroded over the last 50 years. The first major death knell came with the 1973 oil crisis and the two-year recession that followed, which signaled the end of the West's postwar prosperity boom. Since then, the nuclear family has crumbled piece by piece. In 1970, more than two-thirds of American adults between 25 and 49 lived with a spouse and at least one kid. By 2021, only 37% of adults fit the bill, Pew Research found. Although it may be premature to declare the nuclear family officially over, the model is beginning to look more like a fringe lifestyle choice than the bedrock of American society. Advertisement The demise has sparked no shortage of (often racist, sexist, and homophobic) political backlash. From Elon Musk, the father of 11 kids, to the failed GOP presidential hopeful Vivek Ramaswamy, defenders of so-called "traditional family values" decry the potential economic hazards of plummeting birth rates and the social disorder caused by unruly men without wives to rein them in. Some even argue that the nuclear family is the cornerstone of democracy itself. For decades, the idea of the "family" consisted of a married couple with two kids. Camerique/Getty Images Others, meanwhile, have eagerly cheered on the shift away from the stifling gender politics of the four-person norm. Critics include radical family-abolition scholars such as M.E. O'Brien, whose 2023 book "Family Abolition: Capitalism and the Communizing of Care" argues that the contained family structures "cannot carry the immense burden of work placed on them." On the other end of the political spectrum, in an early 2020 cover story for The Atlantic, the conservative columnist David Brooks declared the nuclear family "a mistake." Since the onset of the pandemic, the looming cloud of skepticism hanging over the whole concept of the "nuclear family" has only thickened. Like it or hate it, the future of the family has never appeared so uncertain. For a society structured around the ideal of the nuclear family, its demise has left everyone wondering: What happens now? Like many other social norms, the nuclear family was the product of the economic and cultural conditions of a particular time and place, upheld by policies and institutions for decades. Until the 19th century, marriage was less the union of two souls in love than the pragmatic, obligatory step in a long tradition of social and family organization. Most Americans at that time lived in extended, multigenerational "corporate families" that worked together to run a family farm or a business. As the economy industrialized over the course of the 19th century, more young men and women left their family farms for jobs in factories and offices, usually in cities. Free from the watchful eyes of their parents and relatives, these young people began to go on dates, spending their discretionary income on outings to the local movie house or soda counter. In her 2016 book "Labor of Love: The Invention of Dating," Moira Weigel traced this shift. "By bringing courtship out of the home and into the marketplace, dating became a lucrative business," she wrote. "For the first time in human history, dating made it necessary to buy things in order to get face time with a prospective partner." As dating culture became more entrenched in the economy during the 20th century, a community-based way of life gave way to individuals focusing on their own wants and needs. The middle class expanded and children were no longer expected to work for their family's economic survival; in white, middle-class families, men earned the wages that supported the family and their wives raised the children and ran the home. The nuclear family became a microcosm of capitalist self-sufficiency and the consumerism that came with it. It was also, in some respects, a fluke. As Brooks noted in The Atlantic, the nuclear family's status as the default household arrangement for American adults peaked during the relatively brief window between 1950 and 1965, when divorce rates plunged, fertility rates boomed, and the postwar economy flourished. It was during these years that "a kind of cult formed around this type of family," Brooks wrote, noting that those who broke the mold by opting out of marriage were often seen as deviant or "neurotic." The nuclear family was a brief product of the postwar economic boom. Charles E. Rotkin/Corbis/VCG via Getty Images The obsession with the nuclear family masked its underlying instability. By the 1970s, social inequality and wage stagnation following the 1973 oil crisis and recession had made it impossible for many white, middle-income husbands to sustain entire broods on a single salary. More and more women entered the workforce, giving them greater economic autonomy and enabling some to leave unhappy marriages. After California legalized no-fault divorce in 1969, other states quickly followed. In turn, divorce rates soared. (To this day, women initiate the overwhelming majority of divorces.) Advertisement The nuclear family began to rapidly disintegrate. But it wasn't exactly the end of a golden era. As more people have formed families that diverged from the nuclear-family norm, the weaknesses of the structure have become glaring. The biggest fallout we see today is in the childcare crisis, where the self-reliance inherent to the nuclear-family model resulted in women bearing the burden of raising children. Although an overwhelming majority of women now work outside the home, they continue to shoulder the bulk of unpaid caregiving labor for children and aging relatives. They also end up doing more household chores — laundry, cleaning, and cooking are all primarily done by women. Without one partner focused on full-time housekeeping, the amount of work required to run a nuclear family isn't really feasible. "All families, without exception, are dependent on extensive outside support — whether that's state welfare programs, paid service people, or extended family members generously helping out," O'Brien, the family-abolition author, told me. The segmentation of families can also "isolate vulnerable individuals, enabling abuse," Stephanie Coontz, the author of "Marriage, a History," told me. And "some such families consciously foster suspicion of those outside the family circle." While this arrangement works nicely for the wealthiest "shareholders" in a capitalist economic system, it isn't a particularly enticing deal for most Americans, Kristen Ghodsee, an ethnographer at the University of Pennsylvania and the author of "Everyday Utopia: In Praise of Radical Alternatives to the Traditional Family Home," told me. The nuclear family's guise of self-sufficiency only barely conceals its toxic codependence with the market economy. But that dynamic also makes the nuclear family particularly vulnerable to economic pressures. "The declining birth rate in industrialized countries reflects the economic reality that children are a bad investment for families, and so many people are deciding not to have them," she said. Adjusting for future inflation, the Brookings Institution estimated that it would cost $310,605 to raise a child born in 2015 through age 17 — about $43,000 more in today's dollars than what it cost in 1960 after adjusting for inflation. In a 2021 Pew survey of child-free adults under 50, 44% said they are unlikely to ever have children. When asked why, most responded that they simply don't want to. Nearly one in five said it was due to the cost. Ghodsee pointed out that while a smaller global population has its perks (the planet certainly isn't complaining), it poses a serious threat to long-term economic growth. "Shrinking GDPs in the future are a direct result of shrinking populations, and that will challenge the very foundations of American capitalism," she said. "This is one reason why conservatives are so keen to limit women's reproductive freedoms." It doesn't take much of a mental leap to see why capitalism and the nuclear family make for such cozy bedfellows. Atomized family units produce more market labor and buy greater quantities of stuff than sprawling, communal kin groups that can lean on each other to share resources and manpower. The nuclear family's guise of self-sufficiency only barely conceals its toxic codependence with the market economy. But that dynamic also makes the nuclear family particularly vulnerable to economic pressures. Advertisement Over the years, people who departed from the nuclear norm stopped being seen as aberrations and became examples of the varied paths adulthood could take. Today, nearly a quarter of children in the US live in single-parent households, and a rising share of adults live without a spouse or romantic partner, either alone or with roommates. Where LGBTQ+ partnership was once criminalized across the country, same-sex unions are now sanctioned under federal law. As of 2020, even polyamorous families have gained legal protections in the municipality of Somerville, Massachusetts. Despite the growing diversity of household types, the nuclear family of the 1950s continues to shape the economics and institutions of American life. By and large, policies that inform tax systems, housing, healthcare, and social services are designed to provide the greatest benefit to married couples and their children. When my partner and I file our annual income taxes in the coming weeks, we'll enjoy a sizable tax break thanks to our decision to tie the knot last fall. And as a dependent on his employer-provided health-insurance plan, I'm able to make a living as a freelancer without worrying about healthcare coverage. But that narrow policy focus leaves an increasing numbers of Americans behind. Though it's unclear what the family of the future will look like, seeds of change are blowing in the breeze. Recent months have seen a deluge of magazine trend pieces, Reddit threads, and newspaper headline portmanteaus speculating about polyamorous families, platonic coparenting, and "mommunes" becoming the next big thing. Even the multigenerational household is quietly coming back into vogue, thanks in large part to ongoing cost-of-living increases and families' caregiving needs. The pandemic seemed to accelerate a collective sense of urgency to come up with something better. "In order for families to function at all, they need lots and lots and lots of external supports," O'Brien said. "During COVID, as some of those external supports disappeared, that became dramatically and painfully obvious to huge numbers of people." The lockdowns of the early pandemic also foregrounded the social and relational pitfalls endemic to the nuclear family — "the hot box of being around the same people all the time, the lack of feedback and broader social relationships, and the despair and depression that can go along with this type of social isolation, particularly for mothers of young children," O'Brien said. Ghodsee agreed that the pandemic invigorated people's desire for collectivism and community. Overwhelmed nuclear families reached out to one another for mutual support and formed "pandemic pods." Communities set up mutual-aid groups to share goods and deliver groceries to elderly and immunocompromised neighbors. In the face of urgent necessity, people began to imagine pathways toward a more expansive definition of family. Suddenly, everyone was talking about how to recreate the "village." During the pandemic, a lot of families realized how isolated they really were. Mark Boster / Los Angeles Times via Getty Images "A lot of people who lived alone and who used to think of having their own place as the ultimate symbol of personal autonomy and success became very lonely," Ghodsee said. "Things like co-living, co-housing, and intentional communities are now making a comeback." Two websites that match single adults for the purpose of platonically co-parenting children reported a 30% to 50% surge in traffic during the COVID lockdown, The Guardian reported. Not everyone agrees that the grass is greener on the other side of the white picket fence. Coontz, a leading historian of the American family, notes that every family structure comes with its own set of distinct weaknesses, strengths, and possibilities. The extended families of yore guaranteed a measure of built-in support and community that was particularly beneficial for raising children. But the extended-family structure also made it "far easier for the older generation to control the younger ones," Coontz said, and tended to undermine the romantic couple relationships in their midst. Advertisement No family model is perfectly resilient, equitable, or sustainable in a vacuum. "It's the larger social context that counts most for how any institution functions, and any decent social system needs to put protections in place to minimize the chance of abuse and give people options when the institution fails or abuses them," Coontz said. She remains unconvinced that rearranging the family structure will resolve its many ails. She also believes it unlikely that the typical American family will ever stray too far from the basic configuration of a romantic partnership and children. What she hopes for is "a society whose institutions and policies encourage personal security and trust beyond our families and friends — to make our lives better when we are in and when we are out of an intimate romantic relationship." This might include investments in "third places," such as public libraries and parks where community members can freely gather, or more radical overhauls such as the provision of a universal basic income, which could reduce inequality and boost social cohesion. Rather than changing families to be more like society, this vision of the future imagines a society that's more like a big, supportive family.

Top ad guru Martin Sorrell downplays chances of Trump's Truth Social capturing serious market share 2024-03-28 09:33:00+00:00 - Advertising guru Martin Sorrell has questioned the prospects of Donald Trump's newly public Truth Social platform, saying it was currently "unfathomable" that clients would want to buy ads on the site. The British businessman told CNBC on Wednesday that the former U.S. president's social media platform has yet to prove its financial viability in an already challenging advertising market. "It's a bit unfathomable. What are the revenues there?" Sorrell, founder and executive chairman of digital marketing firm S4 Capital, said when asked if clients were likely to advertise. Trump Media & Technology Group (TMTG), the company behind Truth Social, went public Tuesday after merging with shell company Digital World Acquisition in a deal known as a special purpose acquisition (SPAC). Shares jumped more than 50% during a volatile first day of trade, before ending the session up 16%, giving the company a market cap of around $7.85 billion, according to the Associated Press. The listing pocketed the presumptive Republican presidential candidate a paper fortune of over $4 billion for his 58% share of the company at a time when he faces mounting legal challenges. He was on the hook for a $454 million bond in a civil fraud case, but the fee was reduced to $175 million Monday following an appeal. The fanfare comes even as the company has struggled to demonstrate a path to profitability. "It sort of defies reality, at least at the beginning," said Sorrell said, who is also the founder and former CEO of ad agency WPP . A spokesperson for TMTG firmly dismissed claims that the share price move defied logic when contacted by CNBC. Truth Social lost $10.6 million in the first nine months of 2023 on revenues of $3.4 million. According to Semafor, the company has now lost at least $57 million since its inception in 2021, when it was created by Trump in defiance to his blacklisting from Twitter following the Jan. 6 Capitol attack.

Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher 2024-03-28 09:27:00+00:00 - Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Markets will continue to rally even if the Federal Reserve chooses not to cut interest rates this year, according to Steven Blitz, chief U.S. economist at TS Lombard. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Last week, the U.S. central bank left interest rates unchanged for the fifth consecutive time, in line with expectations, keeping its benchmark overnight borrowing rate in a range between 5.25%-5.5%. The Fed also said at the time that it still expects three quarter-percentage point cuts by the end of the year. The message fueled a market rally in the U.S. and overseas, with benchmark indexes climbing to fresh record highs since. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. You know that 0.4% month over month is a high number, and you know they are looking at that. They're not just looking at year over year." "Really what is going on here is an evolution, right?" Blitz told CNBC's "Squawk Box Europe" on Thursday. "They [the Fed] have already told you they are not going to hike rates to try to shorten that timeline of getting to 2%, so if you're the market you're like, 'well that's OK,'" Blitz said. "The key is … let the markets figure that out, rather than the Fed imposing that view. Let everybody evolve to that position slowly, and then all's OK." watch now Traders are currently pricing in a roughly 55% chance of a first Fed rate cut in June, according to the CME FedWatch Tool. That's down from nearly 70% last week. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. "It's a very big, diverse economy and it's a very big country. So, you never have all geographic regions and every industry in every corner of the country doing well. There are always leaders [and] laggards, it's just the nature of the beast, right?" Blitz said. "The equity investor's job is to pick out what's doing better, you know, where the value is but as an economist stepping back, you say no there is no reason for the equity market to go down." A narrow window for a rate cut? Fed Governor Christopher Waller on Wednesday said that there was "no rush" to cut the U.S central bank's policy rate to normalize policy. Speaking at an Economic Club of New York gathering, Waller cited recent inflation data, which "tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2 percent." Separately, Atlanta Federal Reserve bank President Raphael Bostic last week said that he now expects just one single quarter-point rate cut this year, down from the two cuts that he had previously projected. "I think Bostic is an important voice, but I think Waller is much more important. I think he is sort of considered a bit of the alter-ego of [Fed Chair Jerome] Powell so when he says something the markets should react to it," Blitz said. "To be fair to the Fed, which I don't have to be, but to be fair to the Fed they are kind of evolving, and they are doing the right thing by not rushing in either direction." Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024. A trio of central bank decisions this week sent a clear message to markets that officials are preparing to loosen monetary policy, reigniting investor appetite for risk. Bloomberg | Bloomberg | Getty Images

Extra bicep curls with your cappuccino? GymNation expands into coffee market with the launch of the world's first Fit-Café™ concept 2024-03-28 09:24:00+00:00 - Loading... Loading... DUBAI, UAE, March 28, 2024 /PRNewswire/ -- GymNation, the homegrown UAE fitness brand, has today announced that due to unprecedented growth, it is reaching capacity across its 12 UAE gym locations and diversifying into a new market, brewing up a storm with the launch of its first-ever branded coffee shop. By creating weighted coffee cups and utensils that double as dumbbells, The Daily Grind Fit-Café™ aims to promote active lifestyles by turning every sip and every bite into a rep. Other features include a queuing system that pushes you to run while you wait and espresso's that require some pulling power to grind down fresh coffee beans. Loren Holland, Founder and CEO, GymNation said, "GymNation launched because we felt for too long UAE residents had been overcharged for substandard gym facilities. We've now grown to 12 locations, with twelve more in fit-out and over 65,000 members, becoming the UAE's largest gym. However, as we continue on our ambition to make going to the gym less intimidating, more affordable, accessible, and fun for everyone we are reaching the limits of our ability to take on new members." "Core to GymNation's DNA is to challenge tradition and coffee is ripe for disruption with the UAE's coffee sector expected to grow to over $325m by 2028*. The Daily Grind café will do for coffee culture what GymNation has done for health and wellness. Some might think this is a tall order, but we're serious about giving this our best shot. It's a frothy market, but as we have done with the gym industry, we are ready to roast the competition by making even going for a coffee an opportunity to stay active and improve health and well-being, with the world's first-ever Fit-Café concept™," he continued. GymNation is offering unlimited free coffee for 1 year to the first 100 people to register on https://gymnation.com/coffee About GymNation GymNation is the region's leading gym operator with 12 UAE locations and 65,000 members, GymNation aims to become the largest gym chain across the GCC with further expansion planned across the region including Saudi Arabia, Qatar, Bahrain, and Kuwait. Photo - https://mma.prnewswire.com/media/2374262/GymNation.jpg SOURCE GymNation

Photomedicine Pioneer CLINUVEL Unveils Clinical, Cosmetic Ambitions to German Investors 2024-03-28 09:21:00+00:00 - Loading... Loading... DÜSSELDORF, Germany, March 28, 2024 (GLOBE NEWSWIRE) -- Pioneering biopharmaceutical company CLINUVEL yesterday hosted a wide-ranging market briefing discussing its novel drug SCENESSE® (afamelanotide) and the future of photomedicine. Over 70 guests discussed the Company's unique history and future growth potential at an invitation-only event in Düsseldorf. Managing Director and CEO, Dr Philippe Wolgen shared the Company's success in establishing profitability over the past seven financial years, building a strong balance sheet, commercialising the innovative melanocortin drug SCENESSE®, and plans to bring melanocortin technology to wider audiences with unmet needs. CLINUVEL is now investing heavily in R&D with an ambitious clinical pipeline, including a phase III clinical trial for the pigment loss disorder vitiligo. A case study presented at the American Academy of Dermatology Meeting on 9 March highlighted the systemic repigmentation of the skin of a female patient from the combination of SCENESSE® and phototherapy (light treatment). An estimated 45m individuals live with vitiligo globally, with no effective treatments for widespread depigmentation. The Company's aspirations stretch beyond the clinical, with Dr Wolgen expanding upon the goal of making CLINUVEL a household name with the introduction of its PhotoCosmetics lines, incorporating novel melanocortin peptides. The consumer skincare lines are translating the Company's targeted science into innovative products for the wider population. The lines were introduced to key US investors and celebrities during an intimate event at the home of Lady Gaga and longtime shareholder Michael Polansky in Malibu last month, resulting in positive feedback, a new international audience and anticipation for launch. "The potential of CLINUVEL to translate its expertise in melanocortins to address unmet needs in a range of conditions and as PhotoCosmetics underlies the future potential of the Company," Dr Wolgen said. "German investors have been pivotal in supporting our work thus far and we hope to share our success with the wider investment community." About The CLINUVEL Group: CLINUVEL is a public biopharmaceutical company whose pioneering melanocortin technology has revolutionised the field of photomedicine. Over the last 25 years, CLINUVEL's work has furthered scientific knowledge, delivered breakthroughs in medical technology and transformed patients' lives. The Company has developed and commercialised SCENESSE® (afamelanotide), the only approved treatment in the world for the prevention of phototoxicity in adult patients with EPP. The treatment was approved for use by the US FDA in 2019 and is also approved for commercial distribution in Europe, Israel and Australia. CLINUVEL is conducting clinical trials to assess the efficacy and safety of its melanocortin technology in treating severe disorders including xeroderma pigmentosum (XP), vitiligo and arterial ischemic stroke. In 2023 it announced its expansion into skincare with the introduction of its first PhotoCosmetic product CYACÊLLE, a polychromatic solar screen. Contact: Tel: +61 3 9660 4900 Fax: +61 3 9660 4909 Email: mail@clinuvel.com Australia (Head Office), Level 22, 535 Bourke Street, Melbourne, Victoria, 3000, Australia For more information visit www.clinuvel.com Instagram: @clinuvel_pharmaceuticals Twitter: @ClinuvelNews Facebook: @Clinuvel Media Contact: lachlan.hay@clinuvel.com

VP Harris says US agencies must show their AI tools aren’t harming people’s safety or rights 2024-03-28 09:10:33+00:00 - U.S. federal agencies must show that their artificial intelligence tools aren’t harming the public, or stop using them, under new rules unveiled by the White House on Thursday. “When government agencies use AI tools, we will now require them to verify that those tools do not endanger the rights and safety of the American people,” Vice President Kamala Harris told reporters ahead of the announcement. Each agency by December must have a set of concrete safeguards that guide everything from facial recognition screenings at airports to AI tools that help control the electric grid or determine mortgages and home insurance. The new policy directive being issued to agency heads Thursday by the White House’s Office of Management and Budget is part of the more sweeping AI executive order signed by President Joe Biden in October. While Biden’s broader order also attempts to safeguard the more advanced commercial AI systems made by leading technology companies, such as those powering generative AI chatbots, Thursday’s directive targets AI tools that government agencies have been using for years to help with decisions about immigration, housing, child welfare and a range of other services. As an example, Harris said, “If the Veterans Administration wants to use AI in VA hospitals to help doctors diagnose patients, they would first have to demonstrate that AI does not produce racially biased diagnoses.” Agencies that can’t apply the safeguards “must cease using the AI system, unless agency leadership justifies why doing so would increase risks to safety or rights overall or would create an unacceptable impediment to critical agency operations,” according to a White House announcement. The new policy also calls for two other “binding requirements,” Harris said. One is that federal agencies must hire a chief AI officer with the “experience, expertise and authority” to oversee all of the AI technologies used by that agency, she said. The other is that each year, agencies must make public an inventory of their AI systems that includes an assessment of the risks they might pose. Some rules exempt intelligence agencies and the Department of Defense, which is having a separate debate about the use of autonomous weapons. Shalanda Young, the director of the Office of Management and Budget, said the new requirements are also meant to strengthen positive uses of AI by the U.S. government. “When used and overseen responsibly, AI can help agencies to reduce wait times for critical government services, improve accuracy and expand access to essential public services,” Young said.

4 Takeaways About Boeing’s Quality Problems 2024-03-28 09:07:00.129000+00:00 - Boeing has faced intense scrutiny and pressure since a panel blew off a 737 Max 9 shortly after the plane, an Alaska Airlines flight, took off on Jan. 5. The episode raised fresh questions about the quality of the planes the company produces several years after two Max 8 planes crashed, killing nearly 350 people. Interviews with more than two dozen current and former employees reveal longstanding concerns about quality, particularly as pressure increased to keep production going in the company’s factories. Now, Boeing faces an immense challenge as it seeks to make changes that improve the quality of its products and regain its credibility with lawmakers, regulators, airlines and the public. Here are some takeaways. Quality issues date back years. Current and former Boeing employees said that for years it felt as if quality took a back seat to keeping planes moving through its factories.

I moved to Puerto Rico from New Jersey with my partner. Rent is cheaper, the weather is warmer, and we plan to stay. 2024-03-28 09:04:01+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview This as-told-to essay is based on a conversation with Jarrell Chalmers, a 31-year-old marketing consultant in San Juan, Puerto Rico. The following has been edited for length and clarity. I'm from Jersey City, and my partner, Jose Diaz, is from Hartford, Connecticut. We lived in Jersey City before moving to San Juan, Puerto Rico, last April. We're both of Puerto Rican origin — my mom and Jose's father were both born in San Juan — and we always knew that we wanted to experience it by living here. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Although our Spanish is a little shaky, it's improving, and integrating on the island has been pretty easy for us. We make it a habit to order our food, greet new people, and talk to our neighbors in Spanish. Advertisement We both work remotely as independent marketing contractors. None of our clients mind us living in Puerto Rico. During the pandemic, rents skyrocketed in Jersey City Jersey City became super expensive when the pandemic hit, and the quality of life wasn't the same as it used to be. We were working every single day just to make ends meet. The cost of living is one of the main reasons we wanted to move to Puerto Rico. Here, our rent is about $700 cheaper a month. We stayed in an Airbnb for one month before moving and finding our apartment online. We loved it when we visited, especially as Puerto Ricans who really love our culture. Not having to deal with seasonal depression in New Jersey has also been a bonus. Advertisement Before we moved, we gave away a lot of our furniture. We bought some from Amazon and everything else we sourced locally to support businesses on the island. Rent is cheaper, but groceries are more expensive Houses in Old San Juan, Puerto Rico. Oscar Gutierrez/Getty Images Groceries are pricier due to laws like the Jones Act, which raises the price of many imports into the island. Farmers' markets can be good value, and Costco tends to be a bit cheaper than in New Jersey, but many places to buy groceries here are quite expensive. Related stories We can still get about 90% of the things we need on Amazon. If we can't get it shipped here, we use a website called Myus.com which ships things over from Florida. The ugly side of relocating is the displacement of locals, but many have welcomed us with open arms In January, I was down with COVID-19, and one of my neighbors dropped off a care package with a ton of medicine, tests, and home remedies. How people have treated us in this city is a big part of why we moved here. Advertisement But when many people move to a place, the rents rise, and locals can no longer afford to live there. Rents and house prices have risen considerably in recent years in Puerto Rico. To help combat this, we've been giving back to people on the island in practical ways. We help locals with their résumés and cover letters for free. We've grown a following on TikTok and Instagram, and we share where we eat, how we save money, grocery hacks, remote working tips, and recipes. We end many of our videos by asking our followers to comment if they need help. They then email us their résumés and we tailor them to the jobs that they want. We've also been posting content on how to get remote jobs in Puerto Rico for Puerto Ricans. Advertisement We started our own coffee brand to promote local farms We decided to start a company doing something that we actually enjoyed and could help us give back to the local area, so we created a coffee brand called Planeta De Cafe. The objective is to amplify local farms on the island. For every sale we get, we donate $1 to a nonprofit called Puerto Rico Rise Up that's teaching students how to get more competitive jobs. We post about our coffee company on our TikTok, too. Our dream is to take our coffee business and content creation full-time. We share some of the negative parts of living here with our audience People grew accustomed to us sharing the beautiful side of the island, so when we finally spoke on the dark side of it, I think some people were thrown off. We discussed the split between native and American-raised Puerto Ricans, the crowded hospitals, and the frequent power outages. Advertisement In some cases, tourists come and don't treat the island with care and respect. Since there are those who mistreat the island when they visit, tensions can be high. We think it's important to shed light on real issues so more people are encouraged to work on and fix them. Adjusting to the pace of life here has been hard at times, but ultimately rewarding Back in New Jersey, everything's very fast-paced. Over here, everything's very slow. If you go to a restaurant, it will take 30-40 minutes to get food. You might have to wait a long time for a package or for your WiFi to get installed. Things move slowly because people in Puerto Rico live in the moment, and that's what we love about it. Advertisement We miss our family and friends, but they visit often and stay in our spare room. For now, we plan on staying long term. We've decided to build a life here. Our families left the island decades ago to find opportunities in the States. They found that opportunity and raised us to be self-sufficient. We're happy to return to our family's roots now that we are.

‘Winners and Losers’ as $20 Fast-Food Wage Nears in California 2024-03-28 09:03:11.801000+00:00 - A decade ago, Jamie Bynum poured his life savings into a barbecue restaurant now tucked between a Thai eatery and a nutrition store in a Southern California strip mall. As a franchise owner of a Dickey’s Barbecue Pit, Mr. Bynum is pridefully particular about the details of his establishment — the size of the hickory wood pile on display near the entrance, the positioning of paper towel rolls on each table, the careful calibration it takes to keep his restaurant staffed 10 hours a day with a small crew. The staffing, he said, has become harder in recent years, as the state’s minimum wage has steadily increased since 2017, often rising by a dollar per year. Today, it’s $16 an hour. But on Monday, it will jump to $20 an hour for most fast-food workers in California, propelling them to the top of what minimum-wage earners make anywhere in the country. (Only Tukwila, Wash., a small city outside Seattle, sets the bar higher, with a minimum wage of $20.29 for many employees.)

‘Shortcuts Everywhere’: How Boeing Favored Speed Over Quality 2024-03-28 09:02:14.250000+00:00 - In February last year, a new Southwest Airlines Boeing 737 Max plane was on one of its first flights when an automated stabilizing system appeared to malfunction, forcing the pilots to make an emergency landing soon after they took off. Less than two months later, an Alaska Airlines 737 Max plane with eight hours of total flight time was briefly grounded until mechanics resolved a problem with a fire detection system. And in November, an engine on a just-delivered United Airlines 737 Max failed at 37,000 feet. These incidents, which the airlines disclosed to the Federal Aviation Administration, were not widely reported. There were no indications that anyone was in danger, and it was not clear who was ultimately responsible for those problems. But since Jan. 5, when a panel on a two-month-old Alaska Airlines 737 Max 9 jet blew off in midair, episodes like these have taken on new resonance, raising further questions about the quality of the planes Boeing is producing. “There’s a lot of areas where things don’t seem to be put together right in the first place,” said Joe Jacobsen, an engineer and aviation safety expert who spent more than a decade at Boeing and more than 25 years at the F.A.A.

Boom Supersonic just flew its test jet for the first time as it races to build the world's new speediest airliner — meet 'baby boom' 2024-03-28 09:00:04+00:00 - Colorado aerospace company Boom Supersonic flew its XB-1 demonstrator for the first time on Friday. Nicknamed the "baby boom," the jet tests technologies for Boom's future Mach 1.7 Overture airliner. The speedy Overture is set to enter service in 2030 and has already earned orders from airlines. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Colorado aerospace company Boom Supersonic wants to bring back the era of the Concorde — a beloved faster-than-sound passenger jet that flew for nearly 30 years before retiring in 2003. Boom's vision of the next supersonic airliner is a Mach 1.7 plane called the Overture, and the company just flew its first prototype on Friday. Nicknamed the "baby boom," the XB-1 demonstrator is the "foundation" for the futuristic Overture. Boom says it uses the experimental plane to prove innovative technologies key to safe and efficient supersonic flight. Here's a closer look at the small but mighty baby boom.

Why some Haitians don’t want foreign nations intervening in their crises — and others do 2024-03-28 09:00:00+00:00 - Johnny Celestin generally believes that Haiti, which continues to be under heightened violence from armed groups and gangs, must re-establish order on its own. “My heart is against foreign intervention,” said Celestin, chair of the nonprofit organization Konbit for Haiti. “I firmly believe in Haiti’s agency.” But now, with armed militias creating an unprecedented level of instability amid a weekslong leadership void, Celestin and others say foreign intervention may be necessary. “I guarantee you,” Celestin said, “that people who are losing their homes, losing their lives, are not in a space where they’re saying, ‘Let us die because we’re so proud. We don’t want any foreign help to help us.” Now living in New York City, Celestin is a native of Haiti and has lived there on and off for most of his life. He returned to Port-au-Prince in 2010 and traveled extensively throughout the country for 10 years. For generations, his beleaguered Caribbean nation has sought to achieve home-grown stability but, following the assassination of its democratically elected President Jovenel Moïse in 2021, armed groups took increasing control of the country’s capital. The violence that immediately ensued put its citizens at yet another crossroads. Some Haitians say their country will only suffer further if foreign intervention is allowed, while others say international support is necessary for Haiti to overcome its political and humanitarian crises. Attempts have been made in the past to foster solutions at home. For example, the year Moïse was killed, a group of Haitian and non-Haitian religious leaders, women’s rights groups, lawyers, humanitarian workers and more formed the Commission to Search for a Haitian Solution to the Crisis. The commission proposed a two-year interim government with oversight committees tasked with restoring order, eradicating corruption and establishing fair elections. The group is still working to make its plan a reality. But as violence has ratcheted up in the last several months, the United Nations’ latest plan — drafted by the United States and Ecuador — is to send Kenyan troops in to police Haiti. The plan has drawn criticism from those who say Kenyans don’t speak Kreyòl or French and there is evidence of human rights abuses in the Kenyan army. The plan is currently on hold, but it falls in line with Haiti’s history, which is riddled with intervention from other nations, especially the U.S., with little evidence that these efforts have contributed to long lasting peace and stability in the country. Celestin, like other Haitians, said he is inherently against foreign intervention as it has existed, but understands that it may be necessary to stem the tide of violence and poverty in Haiti. However, he said, any foreign intervention should support Haitians and their efforts rather than holding complete control over the country with no input from its citizens. “The fight that needs to take place to save Port-au-Prince and to save Haiti, has to be a fight that is led by Haitians. I believe we have that capacity, if those folks feel they have backup … Once they clear an area, there’s got to be another force that can come in and ensure that they control it. And this is what I believe the international force can do.” Monique Clesca of Port-au-Prince agrees that it is important for Haitians to work with foreign actors, but it must be on their own terms. “There is an aspect of sovereignty that’s extremely important,” said Clesca, a member of the Commission to Search for a Haitian Solution to the Crisis. “Yes, we need to work with different partners; yes, we will need help; but it is not them who will dictate what kind of help we should get and when we should get it.” However, Haitian scholars like Jemima Pierre have condemned the foreign intervention throughout Haiti’s history. Pierre, a professor at the University of British Columbia, Vancouver, said foreign intervention, including from the U.S., is partially to blame for Haiti’s turmoil. “What intervention means for Haiti, what it has always meant, is death and destruction,” Pierre said. “What’s the definition of insanity? Doing the same thing over and over again, and expecting a different result.” Destructive foreign intervention colors Haiti’s history as an independent nation Haitians’ skepticism about outside interference dates back to the birth of the country. In 1791, Haitians began a revolt against slavery. They ousted their French masters and Haiti obtained its independence in 1804. The story was one of heroism and triumph, until France issued the newly freed Black country an ultimatum: pay 131 million francs in reparations to its former masters or face consequences. The new country was forced to pay what would be at least $21 billion in today’s dollars to avoid war and further economic restraint and to maintain its independence. The U.S., afraid the revolt would inspire its own enslaved people, did not recognize Haiti and worked to choke the country economically and diplomatically. It took the country more than 100 years to pay the debt. President Woodrow Wilson ordered the U.S. Marines to invade Haiti after the assassination of its president in 1915, citing concern about political unrest in the region. The U.S. implemented a government that it controlled, established segregation, and killed thousands of people during the 19-year occupation, according to The New York Times. Afterward, the U.S. controlled Haiti’s public finances, using a massive amount of the country’s income to repay debts to itself and France, NPR reported. The rise, fall and rise of President Jean-Bertrand Aristide Haiti’s history of economic and diplomatic oppression went largely ignored by France and other powerful nations in the centuries that followed, until Jean-Bertrand Aristide rose to power. Aristide became Haiti’s first democratically elected president in 1990. When four years later he was ousted in a military coup, the U.S. sent 20,000 troops to restore order in the country. Back in power, Aristide was vocal in his demands that France right the reparation wrongs and repay the money it had taken from Haiti for centuries. In 2004, he was overthrown again. The U.S. encouraged him to step down this time and helped him escape with troops from France, Canada and Chile. However, Haitians liked Aristide and he long remained one of the most popular political figures in the country. Many believe that the international support to remove Aristide was prompted by his demands for reparations from France. “What’s going on in Haiti is a flare-up of a situation that’s been going on for 20 years, and that situation is a complete takeover of Haitian society and Haitian political systems by foreign powers. People think this is hyperbole, but it’s not,” Pierre said. “It’s 20 years ago that the U.S., France and Canada funded a coup d’état against Haiti’s democratically elected president, Jean-Bertrand Aristide.” French and Haitian political figures have said that France, troubled by Aristide’s influence, began to work with his local opponents and the U.S. to remove him from power, The New York Times reported. France and the U.S. have denied these allegations. Once Aristide was out, the United Nations implemented a security effort led by the Brazilian military, known as MINUSTAH, from 2004 to 2017 — and then a small operation followed that lasted until 2019. This mission has been criticized and known for allegations of murders, rape and other atrocities, according to Harvard Law School’s human rights clinic. Amid all this, Haiti endured a devastating earthquake in 2010 that killed about 220,000 people, and another deadly earthquake in 2021. A cholera outbreak that killed at least 10,000 after the 2010 earthquake was traced back to U.N. peacekeepers sent from Nepal, according to The Washington Post. Matters only grew worse as Haiti struggled to regain its footing after the earthquakes, and as elections were repeatedly postponed following Moïse’s assassination in 2021. The U.S. and several other nations supported Ariel Henry, who had been prime minister under Moïse, to temporarily replace Moïse as the country’s leader. The unelected prime minister is deeply unpopular in Haiti, and this only worsened as he delayed the presidential election. Armed groups, already active in Port-au-Prince, dialed up the violence in the last year. These groups have been present in the country for decades alongside the establishment, with many politicians even using them to do their bidding, including everything from intimidating the opposition to collecting votes. As Henry continued to delay a presidential election, the rebel forces engaged in increasingly daring acts and have now taken control of at least 80% of the capital, according to a United Nations estimate. Meanwhile, Haitians like Dave Ali Fils-Aimé have committed themselves to the country’s progress by launching programs that connect with and support Haitians directly. In 2013, Fils-Aimé founded Baskètbòl pou Ankadre Lajenès (Basketball to Uplift the Youth) to engage with children through the sport and educate them. The program operates in Cité Soleil and Martissant, two Port-au-Prince neighborhoods racked with violence from armed groups, and, according to Fils-Aimé, it serves as the perfect tool for keeping children from joining the armed groups terrorizing Port-au-Prince. In the past months, Baskètbòl pou Ankadre Lajenès has had to cut down its operations as the violent groups have closed in on their headquarters. For now, the organization is only working with children in close proximity to its headquarters. Still, Fils-Aimé says, it’s organizations like these that represent the self-determination and community that will be necessary to pull Haiti out of its persistent crises. “The government, because of its lack of capacity and high levels of corruption, they’re not investing in the youth as they should. So it’s incumbent upon organizations like ours to provide that support,” Fils-Aimé said. “We have some youth who started with us back in 2013, 2014, who are now in their final years of university. That’s a youth whose life you’ve saved by providing them with the opportunity to be part of this organization.” For more from NBC BLK, sign up for our weekly newsletter.